The Japandi-inspired lifestyle brand NOOE made waves on Shark Tank India Season 4, clinching an unprecedented ₹5 crore deal with Peyush Bansal. This milestone unfolded despite the brand facing a challenging pitch and significant financial constraints, showcasing the power of bold decision-making and strategic negotiation.
Founded on the principles of Japanese minimalism and Scandinavian functionality, NOOE entered the Shark Tank with a valuation of ₹50 crore, seeking ₹50 lakh for a 1% equity share. The brand's presence at Harrod’s in London initially impressed the sharks but was later overshadowed by concerns over unsustainable shipping costs that eroded profits, reducing the prestigious partnership to a marketing asset rather than a financial gain.
Financial concerns deepened when it was revealed that NOOE had only ₹22 lakh in reserves against debts exceeding ₹1.2 crore. Despite these setbacks, the sharks lauded the brand's exceptional design but questioned its business model. Anupam Mittal expressed shock over NOOE's significant price markup at Harrod’s, while Aman Gupta criticized the founders' lack of business strategy.
Three sharks exited, citing the need for a comprehensive overhaul. Gupta offered ₹3 crore for 50% equity, while Bansal proposed ₹3 crore for a 51% stake. Initially unwilling to cede control, the founders made a bold counteroffer of ₹5 crore for a controlling stake. Bansal's acceptance set a record for Shark Tank India, solidifying NOOE's journey toward global recognition.
Reflecting on the experience, co-founder Piyush Suri emphasized the lessons learned from the meticulous production of the show, calling it a "masterclass" in creative execution. The deal not only marks a turning point for NOOE but also highlights its resilience and potential to thrive on the global stage.
